Guideline Value for VEDAVALLI AVENUE

Vedavalli Avenue guideline value

The current guideline value of Vedavalli Avenue, located in Chettipunniyam village, is Rs 1,800 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Vedavalli Avenue has changed

The guideline value for Vedavalli Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,800 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. Following this, the value increased significantly to Rs 1,800 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023, and a 0% change from 2023 to 2024. The register has no figure for the years 2002, 2003, and 2007.

Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 1,800 per sq.ft. The fluctuations in the earlier years reflect a dynamic adjustment in property values, but the current rate has stabilized at this level since 2023.

Guideline values in Chettipunniyam

In Chettipunniyam village, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft, with a median value of Rs 900 per sq.ft. The guideline value for Vedavalli Avenue is above this median, indicating a relatively higher valuation for this street.

• Sterling Builders Uds: Rs 1,200 per sq.ft (2024)
• Sri Yoga Hayagrivar Vijayam Sowbhagya Housing: Rs 900 per sq.ft (2024)
• Sri Venkateswara Mount View Nagar: Rs 900 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 900 per sq.ft (2024)
• Sri Padmavathi Nagar 3: Rs 700 per sq.ft (2024)
• Sri Hayagrivar Nagar Phase 5: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Vedavalli Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total cost for these fees to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vedavalli Avenue?

The Sub Registrar Office that covers Vedavalli Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chettipunniyam

The guideline value is a crucial factor when registering property transactions in Chettipunniyam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted within a fair framework set by the government.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees, which are essential costs associated with property transactions. Buyers should be aware of the current guideline value to accurately estimate these expenses before proceeding with a sale or purchase.

Frequently asked questions

What is the current guideline value of Vedavalli Avenue?

The current guideline value of Vedavalli Avenue is Rs 1,800 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations over the years, with Rs 1,800 per sq.ft in 2012, dropping to Rs 1,206 per sq.ft in 2017, and then rising back to Rs 1,800 per sq.ft in both 2023 and 2024.

What are the guideline values for other streets in Chettipunniyam?

Other streets in Chettipunniyam have varying guideline values, with rates ranging from Rs 700 to Rs 4,750 per sq.ft in 2024. The median for these streets is Rs 900 per sq.ft.

What are the stamp duty and registration fees for property in Vedavalli Avenue?

For a property valued at Rs 18,00,000, the stamp duty would be Rs 1,26,000 and the registration fee would be Rs 36,000, totaling Rs 1,62,000. These fees are calculated based on the guideline value or sale price, whichever is higher.

Which office handles the registration for Vedavalli Avenue?

The registration for Vedavalli Avenue is handled by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.